77 Assessments: time limits and supplementary assessments

77  Assessments: time limits and supplementary assessments

(1)     Subject to the following provisions of this section, an assessment under section 73. . . or 76, shall not be made—

(a)     more than [4 years] after the end of the prescribed accounting period or importation . . . concerned, or

(b)     in the case of an assessment under section 76 of an amount due by way of a penalty which is not among those referred to in subsection (3) of that section, [4 years] after the event giving rise to the penalty.

[(2)     Subject to subsection (5) below, an assessment under section 76 of an amount due by way of any penalty, interest or surcharge [penalty or interest] referred to in subsection (3) [. . .] of that section may be made at any time before the expiry of the period of 2 years beginning with the time when the amount of VAT due for the prescribed accounting period concerned has been finally determined.

(2A)     Subject to subsection (5) below, an assessment

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